September 26, 2012

Dangerous Fakes: the Cost of Counterfeiting

Once viewed as a problem limited to purveyors of high-end luxury goods, today counterfeiting has become multi-billion dollar criminal activity that affects almost every American industry. While criminals see the production and sale of counterfeit goods as a lucrative, low-risk business model, this illicit activity not only harms the global economy but also puts consumers the world over at severe risk.

The U.S. Chamber’s Global Intellectual Property Center travelled to Times Square to see just how much the average consumer knows about the global cost of counterfeit goods. Each year counterfeit goods drain over $250 billion from the world market, and mushroom to $650 billion including pirated media. This huge loss undermines international trade and bolsters criminals around the world.

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